Cenovus Energy Moving Back Up

1 août 2022

Cenovus Energy has had a bit of a run after reporting higher Q2 EPS year over year.

They are also potentially getting a bit of a bump pre next weeks OPEC meeting with crude oil closing higher on Friday even as recession concerns continue as traders see little prospect of a rise in supply coming from next week's OPEC+ meeting.

Might be worth a watch.

1 août 2022

Note

How To: Risk Management - A Trailing Stop Loss of 16% would have kept you in most of this trade. If it broke below that it could have been a good sign to exit and look for a new entry when the trend resumed.